Question 25 Chapter 1 of Class 12 Part – 1
25. Following is an extract of Receipts and Payments Account of Youth Success Association. Show how will you deal with the following items in the financial statements of the not-for-profit organisation.
Receipts and Payments Account
As at 31st March, 2018
| Receipts | Rs. | payments | Rs. |
| To Government Grant for Club Library | 1,50,000 | ||
| To Government Grant | 42,000 |
The solution of Question 25 Chapter 1 of Class 12 Part – 1: –
|
Youth Success Association Income and Expenditure Account |
|||
| Expenditure | (Rs.) | Income | (Rs.) |
| By Government grant | 42,000 | ||
Balance Sheet
(as at 31st March 2018)
| Liabilities | Amount | Assets | Assets |
| Government Grant for Club Library | 1,50,000 |
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Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
Chapter No. 1 – Accounting Not for Profit Organisations
Chapter No. 2 – Partnership Accounts – I (Introduction)
Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
Chapter No. 8 – Company Accounts (Share Capital)
Chapter No. 9 – Company Accounts (Issue of Debentures)
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Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
Chapter No. 1 – Financial Statements of a Company
Chapter No. 2 – Financial Statement Analysis
Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 4 – Ratio Analysis
Chapter No. 5 – Cash Flow Statement
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